HLB wins top award, thanks to SME initiatives

KUCHING: Hong Leong Bank (HLB) secured the ‘Best SME Bank in Malaysia’ title at the prestigious Euromoney Awards for Excellence 2024.

HLB chief executive officer and Group Managing Director Kevin Lam expressed that winning the title is a tremendous honour for the bank as it reinforces the dedication of its entire team at HLB.

“We understand that success for SMEs starts at the local level, and we are confident that by continuing to support SMEs through every stage of their banking journey, we can contribute significantly to the nation’s long-term economic prosperity,” he said.

According to its statement, this success is attributed, in a large part, to HLB’s community banking initiatives, which achieved an outstanding 12.6 per cent year-over-year (YOY) growth – nearly double the industry average of 6.7 per cent in the past year.

It pointed out that this growth is due to its steadfast commitment to deploying new technologies and innovations, providing its valued customers with an unparalleled banking experience, regardless of the size of the small and medium enterprises (SME).

“One example would be HLB @ Kampung, the bank’s community banking and financial inclusion initiative which equips local communities with digital payment tools to participate in the digital economy, effectively transforming these areas into a ‘Cashless Kampung’,” it said.

Moreover, while recognising that innovation is key to unlocking SME success in today’s dynamic business environment, HLB said that it has implemented a suite of cutting-edge digital solutions.

“These include streamlined onboarding platforms for business accounts and internet banking, enhanced features for faster trade processing, and an optimised loan origination system that expedites loan approvals.

“These solutions directly address pain points identified through our customer focus. As ‘Your Digital Bank Plus Much More’, we are also combining the power of digitalisation with our strong force of community managers nationwide to provide personalised support and guidance to SMEs, ensuring the availability of the tools and resources needed to thrive,” it said.

Elaborating on the significance of this holistic approach, SME Banking head Woon Siew Hoong said that while the bank understands that navigating the marketplace can be daunting for SMEs, the bank believes in providing both powerful digital tools and personalised, on-the- ground support.

“Our digital solutions streamline operations, while our community managers offer the guidance and connections SMEs need to thrive. By being present in their communities, we gain a deeper understanding of their challenges and can offer tailored solutions.

“The ultimate goal is to help SMEs future-proof their businesses through innovation, a focus on sustainability, and a comprehensive growth strategy,” he said.